How to Raise Your First 1 Million Baht for a Startup – Even Without Connections
Student blog — 16/07/2025
Starting a startup is a bold move especially when it comes to raising your first big round of funding. Many believe that without strong business connections or a well-known name, it’s impossible to attract investors. However, the truth is: there are several ways to raise your first million baht, even if you’re starting from scratch.
This article walks you through practical steps from bootstrapping your business without investor support, to creating a powerful pitch deck and exploring alternative funding sources, even without an existing network.
Before seeking investors, the best way to move your business forward is through bootstrapping. This means using your existing resources wisely and generating revenue as early as possible.
One approach is to launch with an MVP (Minimum Viable Product) a basic version of your product that allows you to test the market with minimal cost. You can also consider pre-orders or basic service offerings to start generating income before needing major investment.
Another useful strategy is cutting unnecessary costs using free or affordable tools to build your website, using no-code platforms like Webflow or Shopify instead of hiring developers, or finding co-founders who can bring complementary skills and reduce staffing costs.
Bootstrapping gives you full control over your startup without giving away equity. More importantly, it allows you to prove that your business idea can make money making it much more attractive to future investors.
When it’s time to pitch to investors, a well-designed pitch deck is crucial. Investors often decide within minutes whether your startup is worth further discussion so your presentation must be clear and impactful.
- Problem – What pain point are you solving? Why does it matter?
- Solution – What is your product/service? How is it effective and different?
- Market Size – Is the market big enough to attract investor interest?
- Revenue Model – How will your business generate income?
- Competitive Advantage – What sets your startup apart and makes it hard to copy?
- Go-To-Market Strategy – What is your plan to grow and reach customers?
- Traction – What real-world results or metrics show your progress?
- Team – Who is behind the business, and why are they the right people?
- Financials & Fundraising Goal – How much are you raising and how will the funds be used?
- Call to Action – What do you want from the investor? (e.g. 5M THB to grow your team)
Investors want to see real numbers such as revenue, users, or growth that prove your model is working. Including this data boosts your credibility and appeal.
- Large market potential – Investors look for businesses that can scale significantly.
- Strong founding team – A great team matters more than just a great idea.
- Clear revenue model – Your path to making money must be solid.
- Traction – Evidence of customer interest or real revenue is critical.
- Competitive edge – What makes your business difficult to replicate?
Meeting these criteria will significantly increase your chances of raising funding.
- 🔹 Accelerators & Incubators – e.g., 500 TukTuks, Dtac Accelerate
- 🔹 Government grants – Programs by NIA, DEPA, and BOI support early-stage startups
- 🔹 Crowdfunding platforms – e.g., Asiola, Weeboon, Kickstarter
- 🔹 Online angel investors – Use platforms like AngelList or LinkedIn to connect
- 🔹 Startup pitching events – Join competitions like Techsauce Global Summit
Choosing the right source of funding for your stage and type of business can greatly improve your chances of securing your first million.
Conclusion: Your Road to the First Million
- Start with bootstrapping to validate your idea
- Build a strong, investor-ready pitch deck
- Seek out funding sources that match your business goals
Raising your first million baht can be challenging—but with a clear plan, solid execution, and the right mindset, it’s a goal well within your reach.
Apply now to join our next intake in Bangkok and take your first step from classroom to startup founder.
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